Ben Cowen Says After Nasdaq Fall, Bitcoin Could Head Back to $58,000
Ben Cowen says the Nasdaq has erased its post-midterm gains, and a 2018-style selloff could send Bitcoin back to $58,000.
The significant outflow from BlackRock's Bitcoin ETF highlights shifting investor sentiment and potential volatility in cryptocurrency markets.
Investor withdrawals from BlackRock's Bitcoin ETF may signal waning confidence in Bitcoin's short-term price stability and market sentiment.
November 6, 2026, 5:26 amGrayscale highlighted a 10% projected compound annual bitcoin return in JPMorgan Asset Management’s long-term assumptions, exceeding estimates for other asset classes. The firm’s analysis connected growing institutional recognition with potential diversification benefits and substantial price risk.
November 6, 2026, 4:45 amBen Cowen says the Nasdaq has erased its post-midterm gains, and a 2018-style selloff could send Bitcoin back to $58,000.
IREN has been shifting its focus to the AI infrastructure business, and its AI cloud revenue rose 182% in the past quarter to $200 million.
Bitcoin’s rise after the elections was short-lived. After hitting the $80,000 mark on Wednesday, it fell to $75,700 on Thursday, which is 6% less than the previous day, as the AI stocks crash spread on Wall Street. Ether also plunged by more than 7% to $2,247, as per The Block.
A single trader lost 201 BTC, worth about $15.6 million, in eight successive liquidations. The wipeout came as a sharp Wall Street selloff rattled crypto markets. The episode shows how quickly high leverage can erase large positions during sudden market swings.
Fields' proposal highlights the need for innovative deterrents in Bitcoin's security, emphasizing economic disincentives over cryptographic upgrades.
Bitcoin’s election rally lasted barely a day. After climbing above $80,800 following Tuesday’s US midterms, the cryptocurrency plunged toward $75,500 on Thursday, November 5. The reversal came as Wall Street suffered its worst tech stock selloff in months, exposing how fragile Bitcoin’s recovery had become.
The former Bitcoin mining heavyweight plans to become a pure-play data center provider in 2027, with mining now accounting for just 7.5% of quarterly revenue.
The Eric Trump-backed miner reported $126 million in quarterly net income, largely driven by gains on its Bitcoin holdings, despite rising mining costs and shrinking margins.
Ueno’s collapse trapped millions of Paraguayan depositors and triggered a president’s resignation, reviving Bitcoin’s argument for self-custody.